OECD Publishes Encrypted Tax Reporting Framework to Share Encrypted Taxpayer Information Across 38 Member States

The Organization for Economic Co-operation and Development (OECD) has released an encryption tax reporting framework, which can automatically share encryption-related taxpayer information among jurisdictions, formalizing information sharing among 38 member states and aiming to strengthen cooperation among countries. Regular information sharing to reduce tax evasion using digital assets. In addition to information sharing between countries, the framework also contains model rules for the domestic taxation of digital assets. The framework will be formally unveiled this week at a meeting of G20 central bank governors and finance ministers in Washington, DC.